Another worry is the rapid development in electric car...

Another worry is the rapid development in electric car technology and the reduction in costs.
A number of auto companies are now or about to release electric cars in the near future.
Tesla now have their new giant lithium battery factory running. It will produce more lithium batteries than the rest of the world combined so I am told. This will encourage the production of more electric cars.
Hence, I would be surprised to see oil rising much further in the near future due to falling demand.
I have been a holder of MRM in the past and sold out prior to the current fall at a small loss.